January 1, 2017. The Internal Revenue Service released 2017 tax year cost of living adjustments for pension plans and other retirement-related items. Here is a summary of the more significant items for 2017.
The Internal Revenue Service announced the 2016 optional standard mileage rate for calculating the deductible costs of operating an automobile for business purposes. Starting January 1, 2016, the standard mileage rate for the business use of a car, van, pickup, or panel truck is 54 cents per mile for